121 NE 5TH STREET UNIT 1500, MIAMI, FL, 33132
Active151 days on marketListed Mar 1, 2026MLS #GC538024
About this home
121 NE 5TH STREET UNIT 1500
A big price improvement ! Welcome to this brand new 501 First Residence Condominium a premier residential community in the heart of Miami. Unit 1500 is a well-designed studio residence offering 458 SF with an efficient open layout, floor-to-ceiling impact windows, and a private balcony providing natural light and urban city ambiance. Delivered fully furnished with a bed, mattress, desk, stools, and a sofa. Everything is brand new and this unit is ready for immediate rental income. This condominium offers amazing amenities: a rooftop pool on the 40th floor, an open-concept sunrise & sunset lounge on the 38th floor, a fitness room, shared workspaces, and a party room. The unit offers a 180-degree ocean view. Right downstairs you have the Miami Downtown light rail/Metro mover, and prime walkability to Miami World Center, Brightline Station, Bayfront Park, dining, entertainment. An ideal investment in one of Miami’s fastest-growing high demand short-term rental markets.
Facts & features
The home at a glance
1
Bedrooms
1
Bathrooms
458
Sqft
0 ac
Lot size
1
Garage
2025
Year built
One
Levels
$1,044
Per sqft
Inside
Outside & construction
Community & fees
Utilities & systems
The numbers
What it really costs
Built from this home's actual numbers — the most recent property-tax bill on record — not generic estimates.
$3,186 /mo · 3.5% down FHA, 30-yr fixed at 6%
The assumptions
FHA is the default here because it gets you in the door with just 3.5% down. Switch to Conventional or VA below.
These numbers assume a generic buyer — your credit, down payment and loan program change them. Get the real quote in minutes:
Andrew Acosta
Acosta Home Loans with PRMG · NMLS #1468866
Run your own numbers
Estimated payment
$3,186/mo
Includes FHA mortgage insurance and the financed 1.75% upfront premium. Taxes reflect the most recent bill on record; insurance is a typical-Florida estimate. Your lender’s numbers will differ. CENTURY 21 Edge partners with Florida’s best lenders.
Value check
Is the price right?
The internet’s favorite home-value number comes from a single automated model that has never seen the street, the finishes, or the view — which is why it routinely misses by tens of thousands of dollars. The edgeAI estimate combines multiple independent data sources with our team’s on-the-ground expertise in this exact market.
$/sqft vs Miami actives
$1,044 vs $538
Days on market
151 vs 26 typical
Where $1,044/sqft sits among the 400 Miami actives
The edgeAI estimate is a starting point, not an appraisal or a broker price opinion. It is generated from public records, listing data and market modeling, and is subject to change once a licensed real estate professional personally inspects the property. Condition, floor, view and lot are not fully captured by any model — ask us for a full comparative market analysis.
Where it sits
Inside Downtown
Get to know Miami. See the full Miami guide →
Downtown — neighborhood snapshot
Population
24,316
Median age
38
Median income
$108,427
Median home value
$557,583
Avg household
2
Households w/ children
1,166
For the school run
Dade County School District
School assignments and ratings via edgeAI — always verify with the district.
The numbers that matter
The Miami market
$495K → $560K
Miami median sold, yr/yr
98.2%
Sale-to-list ratio (12 mo)
35 of 400
Miami actives have cut their price
Median sold price, Miami, trailing 36 months (3-month rolling) · live MLS data.
This home is listed 17% above the MIAMI 33132 median. See the full Miami market guide →
Paper trail
This home's history
Reality check
What actually sold near 121 NE 5TH STREET UNIT 1500
Asking prices are opinions — closed sales are facts. The most comparable homes that actually changed hands nearby in the last twelve months.
Sold · Mar ’26$626,000
Nearby listing
1 bd · 1 ba · 578 sqft · $1,083/sqft
Sold · Feb ’26$696,900
Nearby listing
1 bd · 1 ba · 578 sqft · $1,206/sqft
Sold · Feb ’26$317,500
185 SE 14 Ter # 1709, Miami FL 33131
1 bd · 1 ba · 600 sqft · $529/sqft · 105 DOM
Closed-sale data from the MLS, last 12 months, selected for similarity in size and location. No two homes are identical — ask us for a full comparative analysis.
Your home team
The pros in your corner
Buying a home is two conversations — the home and the money. Here’s who handles each, side by side, already working together.
Your agent
David Ramirez
Real Estate Agent · CENTURY 21 Edge
Tours, negotiation, and every question about 121 NE 5TH STREET UNIT 1500 — start here.
Your lender
Andrew Acosta
Acosta Home Loans with PRMG · NMLS #1468866
Pre-approval, rates, and the real monthly number for 121 NE 5TH STREET UNIT 1500 — before you fall in love.
See it in person
Schedule a tour
Pick a day that works — this goes straight to David's phone and CRM.
Straight answers
121 NE 5TH STREET UNIT 1500 FAQs
What would the monthly payment be for 121 NE 5TH STREET UNIT 1500?+
With 3.5% down on a 30-year FHA loan at 6%, the all-in payment lands around $3,186/mo — principal and interest, the actual property-tax bill and typical Florida insurance. The payment calculator on this page lets you switch loan type (FHA, Conventional, VA) and adjust the down payment, rate and term.
What are the property taxes on 121 NE 5TH STREET UNIT 1500?+
The most recent tax bill on record (2025) was $11. A new owner's bill can differ once the sale price resets the assessed value — we can walk you through what to expect.
Are pets allowed at 121 NE 5TH STREET UNIT 1500?+
The listing reports pets: Yes. Communities often layer on breed or weight rules — we'll verify the specifics with the association before you commit.
How does the price compare to other homes in Miami?+
At $478,000, this home is listed about 4% below the Miami median of $500,000. The market section on this page shows how the area is trending.
Which schools are assigned to 121 NE 5TH STREET UNIT 1500?+
District Instructional Center (Dic) (), Phyllis Wheatley Elementary School (elementary), Booker T. Washington Senior High (high), Jose De Diego Middle School (middle), Instructional Center System Wide (), Title I Migrant Education Program () — Dade County School District. Always verify school assignments with the district before relying on them.
The brief
Four things that matter here
01Positioned at the premium end
$478,000 runs 17% above the MIAMI 33132 median.
02Waterfront living
This home sits directly on the water — the single scarcest feature in Florida inventory and the strongest long-term value anchor.
03Time on market is leverage
151 days on market against a Miami median of 26 — sellers in this position are usually ready to negotiate.
04The price has already moved
Listed at $488,000, now $478,000 — a $10K cut. The full history is in the market section below.
Keep looking
Similar homes nearby
Listing courtesy of FLORIDA HOMES REALTY & MORTGAGE GVILLE · Ying Yan. MLS #GC538024.
IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by Stellar MLS.
Never miss a listing
New Miami homes, in your inbox
Like 121 NE 5TH STREET UNIT 1500 but not quite? A daily digest of every new listing in Miami — straight from the MLS, hours after it goes live. Unsubscribe anytime.
Just watching this one home? Ask David to ping you on any price or status change →